The credit rating agency, Credit Analysis & Research (CARE) has said that it has decided to place Rajesh Mokashi, Managing Director & CEO, on leave with immediate effect after receiving a complaint from the Securities and Exchange Board of India (SEBI).
This move is pending the completion of the examination of anonymous complaint received by the Securities and Exchange Board of India (SEBI) and forwarded to CARE Ratings, the credit rating agency said in a late evening stock exchange notice.
The Board of directors has decided to appoint TN Arun Kumar, currently Executive Director (Ratings) as Interim Chief Executive Officer of the company. He will not be part of Rating Operations to ensure the independence of ratings.
